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Analytics Analysis of metals

Gold and Silver Technical Outlook December 26, 2017

26 December 2017
26_12_2017_gold.jpg
Gold went upwards on Friday during the American session. This may be related to the fact that the United States President has signed the amendments to the tax legislation. We did not expected the volatility growth on Friday as this tax legislation amendments signature procedure was scheduled for January. Anyway, the price is likely to develop its moderate growth.
There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold went upwards last week contrary to our expectations. We think that XAU/USD is likely to go upwards on the next couple of days.
There is the uptrend on the Hourly chart a the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long positions from the MA13. Place stop losses below the indicator.
26_12_2017_silver.jpg
Silver went upwards on Friday. This was related to the same reasons. There is the uptrend currently and we think it is a good time to look for long positions from the MA13.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver failed to decline last week. We think that XAG/USD is likely to go upwards on the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long positons from the MA13 today. Place stop losses below the indicator.


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